After Today’s Gap Up, Is iSHARES US HIGH YIELD BOND INDEX ETF’s Near-Term Analysis Positive

 After Today's Gap Up, Is iSHARES US HIGH YIELD BOND INDEX ETF's Near Term Analysis Positive

The stock of iSHARES US HIGH YIELD BOND INDEX ETF (TSE:XHY) gapped up by $0.04 today and has $31.20 target or 60.00% above today’s $19.50 share price. The 9 months technical chart setup indicates low risk for the $567.21 million company. The gap was reported on Nov, 15 by Barchart.com. If the $31.20 price target is reached, the company will be worth $340.33M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 22,246 shares traded hands. iSHARES US HIGH YIELD BOND INDEX ETF (TSE:XHY) has risen 2.61% since April 11, 2016 and is uptrending. It has underperformed by 1.32% the S&P500.

More notable recent iSHARES US HIGH YIELD BOND INDEX ETF (TSE:XHY) news were published by: Marketwired.com which released: “BlackRock® Canada Announces August Cash Distributions for the iShares® ETFs” on August 15, 2016, also Marketwired.com with their article: “BlackRock(R) Canada Announces September Cash Distributions for the iShares(R) ETFs” published on September 07, 2016, Marketwatch.com published: “Corporate bond ETFs suffer huge outflows as investors get set for Trump” on November 11, 2016. More interesting news about iSHARES US HIGH YIELD BOND INDEX ETF (TSE:XHY) were released by: Marketwired.com and their article: “BlackRock(R) Canada Announces October Cash Distributions for the iShares(R) ETFs” published on October 13, 2016 as well as Marketwired.com‘s news article titled: “BlackRock® Canada Announces June Cash Distributions for the iShares® ETFs” with publication date: June 08, 2016.

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